Thermo Fisher Scientific Inc. (TMO) has decided to use its expertise to help accelerate the development and manufacturing of cell-based therapies, which have tremendous potential for breakthrough treatments. It will take that journey along with the University of California, San Francisco (UCSF).
Thermo Fisher is a leading supplier of lab equipment and supplies as well as technology that support medical research. It has a global footprint and generates more than $30 billion in annual revenue.
Through its strategic alliance with UCSF, Thermo Fisher will build and operate a facility dedicated to cell therapy development and manufacture at the university’s Mission Bay campus. The cell therapy center, which will be located in leased space, will be close to the university’s research facilities and hospitals.
“This powerful combination will provide customers – from emerging biotechs to large pharma companies – with integrated, end-to-end solutions to reduce costs and accelerate adoption of cell therapies,” said Thermo Fisher Executive Vice President and CEO Mark Stevenson.
The facility, which should be up and running in 2022, will provide clinical and commercial cell therapy manufacturing. The goal of the collaboration is to improve patient access to cell-based treatments. (See Thermo Fisher stock analysis on TipRanks)
BTIG analyst Sung Ji Nam maintained a Buy rating with a price target of $590 on Thermo Fisher stock. Nam’s price target suggests 29.78% upside potential.
Consensus among analysts on Wall Street is a Strong Buy based on 7 Buy and 1 Hold ratings. The average analyst price target of $548.75 implies 18.97% upside to the current price.
TMO scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating the stock’s returns are likely to align with market performance.
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